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Kasparov77
High Card
Joined: 19 Mar 2008
Posts: 2
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 Posted: Mon Apr 20, 2009 2:46 pm
Post subject: Pay tax on poker earnings in UK? |
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| In the UK should we pay tax on poker winnings? If for example someone makes an average of around £3k per month playing cash games, has the taxman got a legal claim on any of it. If yes, does this change if the person is in ful or part time employment? |
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Pilf
Full House
Joined: 17 Aug 2005
Posts: 1232
Location: Good old Yorkshire
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Posted: Mon Apr 20, 2009 2:48 pm
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http://www.thehendonmob.com/Articles/...d_the_taxman.html
There's a good article about this here.
Basically gambling winnings are not taxed in the UK.
If it is your only income it may be an idea to pay National Insuarnce contributions though.
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The Reverend
In Rhythm
Joined: 27 Aug 2004
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feedthegoat
High Card
Joined: 11 Dec 2008
Posts: 7
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Posted: Mon Apr 20, 2009 2:49 pm
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| All gambling winning in the UK are tax free regardless of employment status. |
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ScottMGee
Full House
Joined: 28 Jun 2007
Posts: 922
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Posted: Mon Apr 20, 2009 3:25 pm
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| Quote: | | All gambling winning in the UK are tax free regardless of employment status. |
Hence I have noticed a few big players relocating to the UK. |
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Indestructible
Moderator
Joined: 21 May 2005
Posts: 15029
Location: Final Table
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Posted: Mon Apr 20, 2009 5:01 pm
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As the question was should players pay tax, my answer is yes. Bunch of tax dodgers, it goes to pay for hospitals, schools etc.
Hope that helps.  |
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Whu4life
Straight Flush
Joined: 20 Aug 2008
Posts: 3160
Location: Stirring
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Posted: Mon Apr 20, 2009 5:36 pm
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| ScottMGee wrote: | | Quote: | | All gambling winning in the UK are tax free regardless of employment status. |
Hence I have noticed a few big players relocating to the UK. |
And add monaco to that mr hansen and antionius. |
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Rmaccov
Straight Flush
Joined: 25 Apr 2006
Posts: 4023
Location: Scotland
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Posted: Mon Apr 20, 2009 6:30 pm
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| Indestructable wrote: | As the question was should players pay tax, my answer is yes. Bunch of tax dodgers, it goes to pay for hospitals, schools etc.
Hope that helps. |
It's tricky, you're obviously right in theory but what about all the losing players, ie the vast majority? Should they get subsidies? The profits come from casual players as losing players can't be making a living, so from casual players you're getting money that's already been taxed.
As consumers poker players pay tax through VAT so it's not like they're contributing nothing. |
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Scampman
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Joined: 26 May 2007
Posts: 723
Location: UK
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Posted: Mon Apr 20, 2009 8:41 pm
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It's best not to worry about tax..
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burns1986
One Pair
Joined: 10 Aug 2007
Posts: 20
Location: forfar
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Posted: Tue Apr 21, 2009 8:52 am
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| Scampman wrote: | | It's best not to worry about tax.. |
this,<3 the uk |
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zebediah
Royal Flush
Joined: 09 Aug 2005
Posts: 5714
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Posted: Tue Apr 21, 2009 9:18 am
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They would have to radically change laws about poker rooms, as if poker was taxable then poker rooms would just have to pay tax on the rake. Casino license not needed as it would no longer be gambling.
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ScottMGee
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Joined: 28 Jun 2007
Posts: 922
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Posted: Tue Apr 21, 2009 7:02 pm
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| Quote: | They would have to radically change laws about poker rooms, as if poker was taxable then poker rooms would just have to pay tax on the rake. Casino license not needed as it would no longer be gambling.
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I think you are mistaken in your conclusion, just because the government decide to tax poker winnings would not automatically mean that you no longer needed a casino licence - look at America. |
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Alex B
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Joined: 25 Apr 2005
Posts: 2782
Location: London
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Posted: Wed Apr 22, 2009 10:56 am
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I have probably £25k/year deducted from pots I win, and then Ladbrokes sends a good chunk of that on to the tax man for me.
Ethically I have little problem with not paying even more to those who don't feel like working. My (Labour) borough has two jobs for every economically active adult and 42% unemployment. I pay LOTS of council tax for local services (because it subsidises the housing that's preventing new development improving the area), VAT on products, stamp on investments, and for dentistry and medicine, so I'm not left feeling like I owe anything to the rest of the population.
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darrensprengers
Misclick
Joined: 10 Jul 2007
Posts: 6908
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Posted: Wed Apr 22, 2009 11:28 am
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| Alex B wrote: | I have probably £25k/year deducted from pots I win, and then Ladbrokes sends a good chunk of that on to the tax man for me.
Ethically I have little problem with not paying even more to those who don't feel like working. My (Labour) borough has two jobs for every economically active adult and 42% unemployment. I pay LOTS of council tax for local services (because it subsidises the housing that's preventing new development improving the area), VAT on products, stamp on investments, and for dentistry and medicine, so I'm not left feeling like I owe anything to the rest of the population. |
I think this is the best description i have ever read as to why we should not pay tax on poker winnings.
Why pay tax just to fuel the fantasy that its your "job". Its not a job in the purest sense. As a great poker player once said to me the difference between playing poker and a real job is i never came home with less that i went with when i had a real job.
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Rmaccov
Straight Flush
Joined: 25 Apr 2006
Posts: 4023
Location: Scotland
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Posted: Wed Apr 22, 2009 11:44 am
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| darrensprengers wrote: | | the difference between playing poker and a real job is i never came home with less that i went with when i had a real job. |
This guy obviously never worked in a pub when under 20 that was quiet midweek and would sometimes put more in the puggy than he earned in a night. |
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